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Workers' comp coverage can start as low as $14 a month. Several factors are used to determine the cost of workers' compensation insurance. Estimated employer rates for workers compensation insurance in New Mexico are $1.35 per $100 in covered payroll.
Lost time benefits are generally paid every 14 days. The first 7 days missed from work is considered to be a waiting period and is not paid unless a full 28 days are missed from work. Your first check should be issued 14 days from the first day you began missing work, and will likely be for one week.
A company with three or more employees total, and at least one working in New Mexico, whether the employment is permanent, temporary or transitory, must carry workers' compensation insurance.
The fee for the employer is $2.30 times the number of covered employees working on the last day of the quarter. The fee for covered employees working on the last day of the quarter is $2.00. Payment is due by the last day of the month following the end of the quarter.
On July 28, 2023 (payday for the first full pay period in July), State of New Mexico employees who have completed their probationary period and have received an overall final rating of ?Achieves Performance Standards? or higher on their last evaluation will get a 6% cost of living adjustment (COLA).
Benefits include, comprehensive medical, dental, vision, pharmaceutical, Employee Assistance Program, basic and supplemental life insurance, flexible spending accounts, and disability benefits to enhance the lives of our employees and their qualified family members.
As of , the average hourly pay for an On Call in New Mexico is $16.62 an hour.
The fee for the employer is $2.30 times the number of covered employees working on the last day of the quarter. The fee for covered employees working on the last day of the quarter is $2.00. Payment is due by the last day of the month following the end of the quarter.